Identify Decision analysis 7 process steps

Risk to one may be opportunity for another o

Sometimes different stakeholders have different perceptions

Be able to describe risk in development aid

Social Phenomenon of risk Describe Grand Challenge ____________

Watched Costa Concordia video

Be prepared to summarize how you think the risk appetite of Carnival has altered since the event and salvage effort ____________

objective example Boeing Objectives)

decision to make (recall decision context,

define requisite decision modeling,

describe how ethics play a role in decision making;

contrast central [timely] and sequential decision [series & parallel])

o Uncertain Events (describe why it is important to measure relevancy, and dovetailing)

o Consequences (define the term and bound the problem

what is planning horizon and why is it important?

Time Value of Money problems (PV, FV, NPV, IRR) (using Excel is permitted)

Define Enterprise Risk Management (ERM) ensures items arent missed

Recall diminishing resources example (silver)

Define and discuss the importance of understanding the risk appetite o

What is inhibited when the risk appetite is not clearly understood?

Why is ERM important for a SE to understand?

What should the SEs role be in ERM?

Be familiar with the 7 characteristics of ERM

Be familiar with slide 44 in managed risk taking and top down vs bottom up view

What are two additional factors of risk analysis beyond likelihood and consequence?

Establishing context for risk should consider value drivers

Recall ERM design, implementation, embedding (culture, resources), communication

Describe value in collecting the org risks in one seamless coherent whole (risk register) ____________